Sri Lanka has given the authority to investigate all areas where Sri Lankan companies have been involved, which has not been disclosed with regard to Sri Lankans disclosed in Panama Papers, Finance Minister Ravi Karunanayake said.

Speaking at the IMF and World Bank 2016 Spring Meetings press briefing with the IMF Communications Department in USA he said that having a tax haven is not the problem but non-disclosure is the problem.

“So, we have been basically giving the authorities clear signals to get all the information possible.” “As for the Bangladesh situation, as you know, we were the ones who ensured that it did not spill off to the rest the world.

So, at this particular moment, we are basically looking at protecting the Sri Lankan Central Bank authorities and other commercial bank activities. The Monetary Board and my Secretary was there, did discuss this matter and certain steps have been taken to help protect the measures.”

Commenting on the discussions with the IMF, he said that there are no conditions imposed for the IMF funds. “It is just that financial discipline is what is expected and I am sure it is something the government has been embarking on.

On the austerity measures, the discussions are still not at the end. Certainly, they will revisit certain things, but that would not be categorized as austerity measures.”

“As you can see, what happened in Bangladesh was a clear-cut case of hacking that was going on.

It was the lack of awareness of the central bankers in the Asian region. The Minister said that all regional countries are working together, pooling the resources to eradicate this menace.”

One Response to ‘Panama Papers’ Lankan names will be probed’

The Bangaldeshis are no worse than those who manipulate in our banking system.

The magnitude of the Sri Lanka is questionable in that there is no consistency in the claims Ravi says one thing and Arujana says something contrary …….We the public has a right to know as to how much
Yahapalanay started off with and what is current.

The Air Lanka has been put on ice ….most likely it will continue to be run the same way and the Central Bank will authorize to print more money to meet the payments of the local staff and some operations.
Then the Petroleum Corp will be compromised to pay the local fuel bill and the petroleum will continue
to compound the losses. The IMF consortium should get he government to privatize these operations failing should be forced to cease operations. This would help to close the budgetary deficit and create a threshold to burrow more and these savings `siphoned’ to development projects.

This idea of Ravi to make a financial hub is best story yet to come from Ravi maybe we can get a share of the Panamanian stuff to line the pockets of Ravi and Arujun